Cabovisão invests €500m in content, coverage and acquisitions

European investor group Altice will invest €500 million in Portugal’s third largest cable TV operator Cabovisão.

The resources will be used to boost the TV channel offer; to expand coverage in big Portuguese cities such as Lisbon, Porto, Braga and Guimarães; and for the acquisition of other companies, with some negotiations already in the “advanced stage”. Investment will be made exclusively with equity.

Part of the investments will be in a new digital box, which Altice defines as “revolutionary”, to be launched on September 30 in Portugal.

Altice acquired Cabovisão in February 2012 from Canada’s Cogeco Cable for €45 million. At the end of the 1H 2012, Cabovisão had an 8 per cent market share of the local pay-TV market, with 256,730 customers.

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